The chain is the third largest QSR in the country.
The operator of Burger King in New Zealand now has a new owner, after retail and hospitality investment company Tahua Partners signed a binding agreement to acquire Antares Restaurant Group.
Tahua will take over the business from 1 November, subject to satisfying standard conditions. The existing Antares management team is expected to continue to run the company’s operations.
Details of the transaction, including the acquisition price, were not disclosed.
Burger King is the third largest quick service restaurant chain in New Zealand, with 78 restaurants nationwide employing 1,800 staff. The chain also serves as the second global brand Tahua is expected to add to its portfolio after acquiring the local licence to operate Starbucks in 2018.
The parent group of companies which own Antares went into receivership last 14 April, a time when the country was on lockdown due to the coronavirus pandemic.
“Based on the strength of the Burger King brand and the loyalty of our valued team members, supply partners and guests, we see a lot of potential for the brand in New Zealand,” Tahua executive director John Elliott said.
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